'First shopper' Obama heading to store, picks Goolsbee

(Crain's) -- The nation's first-shopper-elect has a message for his fellow consumers as the holiday gift season officially opens: "Help is on the way."

At a Chicago news conference Wednesday morning, President-elect Barack Obama said he and his wife, Michelle, plan to hit the stores either on so-called Black Friday, the day after Thanksgiving, or later in the weekend.

His two young daughters have, as usual, prepared lists and the items are "mostly for Santa," Mr. Obama said, aware that the kids might be watching on TV. "But we may do some extra shopping."

His comments came after he was asked what advice he has for shoppers at a time of economic woe.

"People are understandably nervous," Mr. Obama said. However, he added, "It is important for the American people to be confident. We've gone through difficulties before . . . (and) our future is bright if we make good decisions." He went on to repeat his call for passage of a major stimulus package and other steps to get the economy back on its feet.

Mr. Obama did not indicate which lucky stores would get his business. Unofficial betting among reporters was that Macy's on State Street was a likely stopping point.

But the incoming president did allow that he'll be doing his part to get the economy rolling in another way: The Obamas "are going to have a bunch of people over" for Thanksgiving, with about 60 guests reportedly invited to nosh at the family's Kenwood home.

The main purpose of the news conference was for the president-elect to continue to roll out his economic team. The latest announcement: former Federal Reserve Board Chairman Paul Volcker and University of Chicago economics professor Austan Goolsbee will serve as chairman and staff director/chief economist, respectively, of a new Economic Recovery Advisory Board.

Mr. Obama said the group is intended to give him out-of-the-box perspective from economic experts who are not part of the government. Mr. Goolsbee, long a close adviser to Mr. Obama, also will serve on his Council of Economic Advisers.

Mr. Obama is expected to announce his national security team next week, perhaps including Sen. Hillary Clinton, D-N.Y., as secretary of state.